Maria, Home Buyer in T.O

Why are there so many units on Maegan Place for sale?

Asked by Maria, T.O Mon Aug 18, 2008

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Maegan Place is a large complex. There are always a lot of homes available there - as is the case in any large complex.
0 votes Thank Flag Link Fri Sep 26, 2008
Maria,

Casa De Oaks currently has Seven (7) 2-bedroom listings, and Ten (10) 3-bedroom condo units for sale ranging in size from 810 to 1,200 sf and (list) priced from $179,900 to $299,000. Days on Market range from 3 (new REO) to 177. Of the 17 Actives there are only SIX (6) sellers that are NOT Short Sales or REOs (bank-owned).

The lending practices of 2003-2006 enabled buyers to qualify for an option-ARM or similar mortgage with no money down. The vast majority of these homeowners are upside-down in their equity position and have had their payment jump through the roof. The lower-end of the market had a plethora of first-time homebuyers that would have never bought their homes had they known they would be in the situation they are in today.

I may have a new (Short Sale) listing later this week in the Maegan Place complex, if you should know of any interested buyers.
0 votes Thank Flag Link Mon Aug 18, 2008
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